Posted on 02/22/2014 11:57:12 AM PST by BlatherNaut
The highly credible HSBC/Markit Purchasing Managers' Index (PMI) of economic demand in China reported that demand in China’s factories fell for a second month in a row and hit a seven-month low. Markit Research also reported that production turned negative for the first time in seven months, and hiring expectations fell to a new five-year low. Although the Chinese government continues to produce an array of rosy economic statistics each month, China’s industrial competitiveness seems to be fading fast. Coupling the production contraction with banking problems and a fall in the Employment Index to a five-year low, signs indicate the Chinese economy could soon be in crisis.
(Excerpt) Read more at breitbart.com ...
Every week for the last 10 years, there’s been an article on how China is on the brink of destruction. It’s all propaganda to keep us from raising the import tariffs and getting our industries back.
I’ll believe these stories when are stores aren’t full of Chinese made goods.
The Chinese have a call in to Obama to find out how to cook the employment numbers.
I don’t doubt it.
I don’t know about “destruction,” but it’s pretty much accepted that China is losing its competitive position to Malaysia, Cambodia and Vietnam as a place with low manufacturing costs.
Does China’s workers have labor unions?
If not, maybe we should introduce the workers to such concepts. That might help get America back on track.
They must be using Ubama’s BLS method.
As Japan lost its position to China, and Malaysia, Cambodia and Vietnam will to India, eventually.
We don't want to race to the bottom for labor-intensive jobs, because that's a race we can't win. We just need the government off our backs, and we'll compete with the rest of the world, just fine.
race to the bottom
As England lost to the mills in Massachusetts as the Mass mills lost the Carolina’s
Would not surprise me that all the “woe is Commie China” stuff is to keep the US from placing tariffs Com China to counter their tariffs and non-tariff barriers on US goods. Eventually the trade imbalances are going to catch up w the US
Government regulation and government collusion with market manipulators are both contributing factors.
“...When the recent trade deal with Peru was signed, that country’s president told the U.S. Chamber of Commerce, “Come and open your factories in my country so we can sell your own products back to the U.S.” This is not what Adam Smith, David Ricardo, and the classical advocates of free trade had in mind.
We are no longer just talking about simple trade among economies defined by national frontiers. Today’s globalization represents the creation of a world market without the enforceable rules that make markets work for everyone’s benefit. Led by multinational corporate interests, American policy makers pushed American workers into a brutally competitive market that resembles not so much the future, but the past: the 19th century dog-eat-dog robber baron era...”
http://www.epi.org/publication/trade_policy_and_the_american_worker/
U.S. Exports to Malaysia $13B
U.S. Imports from Malaysia $27B
China dwarfed imports from Malaysia last year. And our trade deficit with Malaysia is much better at 2:1 instead of 4:1. I don't think they are a serious threat to China for at least 20 years.
What do these figures look like when you compare trade figures among themselves? For many of these countries, I'd venture to guess that Asia is a much bigger trade market than the U.S. right now.
I don’t care how big the Asian trade market is. I care that American industries have been decimated and that Americans are unemployed. And that the Asian trade with the U.S. is unbalanced.
That’s nice to know, but that has nothing to do with what I originally posted.
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